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90_HB2389 40 ILCS 5/14-104.9 from Ch. 108 1/2, par. 14-104.9 Amends the State Employee Article of the Illinois Pension Code. Allows an employee to purchase service credit for up to 2 years of educational leave under specified circumstances. Requires payment of employee and employer contributions plus interest. Effective immediately. LRB9007294EGfg LRB9007294EGfg 1 AN ACT to amend the Illinois Pension Code by changing 2 Section 14-104.9. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Illinois Pension Code is amended by 6 changing Section 14-104.9 as follows 7 (40 ILCS 5/14-104.9) (from Ch. 108 1/2, par. 14-104.9) 8 Sec. 14-104.9. Credit for leave of absence. 9 (a) A member may establish creditable service under this 10 Article for up to one year during which he or she was on a 11 leave of absence from employment for which credit is not 12 otherwise available under this Code, subject to the following 13 conditions: (1) the leave of absence terminated before 14 January 1, 1971, and (2) on or before March 1, 1993, the 15 member files a written application with the System and 16 contributes to the System an amount determined by the Board, 17 equal to (i) employee contributions at the appropriate rate 18 in effect for members of this System during the period for 19 which credit is being established, and based upon the 20 compensation received by the applicant at the time the leave 21 began, plus (ii) the employer's share of the normal cost of 22 the creditable service being established, plus (iii) regular 23 interest, compounded annually, from the date of service to 24 the date of payment. 25 (b) A member who has not established creditable service 26 under subsection (a) of this Section may establish creditable 27 service under this Article for up to 2 years spent pursuing a 28 graduate degree while on an educational leave of absence from 29 employment, provided that (1) the member does not receive 30 service credit for that leave under any other provision of 31 this Code, and (2) on or before January 1, 1999, the member -2- LRB9007294EGfg 1 files a written application with the System and contributes 2 to the System an amount determined by the Board, equal to (i) 3 employee contributions at the appropriate rate in effect for 4 members of this System during the period for which credit is 5 being established, based upon the compensation received by 6 the applicant at the time the leave began, plus (ii) the 7 employer's share of the normal cost of the creditable service 8 being established, plus (iii) regular interest, compounded 9 annually, from the date of service to the date of payment. 10 (Source: P.A. 87-1265.) 11 Section 99. Effective date. This Act takes effect upon 12 becoming law.